DOCSLIB.ORG

VIRGINIA Title Insurance Rates

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
VIRGINIA Title Insurance Rates All inquiries concerning the charges related to title insurance and forms should be directed to your nearest Stewart Title Guaranty (“Stewart” or “Underwriter”) Office: Steven Blizzard, Esq. Tim Akers District Office/Northern Virginia District Office/Central Virginia 877-657-8392 • 703-352-2900 800-459-7516 • 804-897-0000 Stewart Sacks, Esq. District Office/Southern Virginia 800-644-7842 • 757-424-4400 John L. Killea General Counsel Stewart Title Guaranty Company 1980 Post Oak Blvd. Houston, Texas 77056 Effective Date: August 1, 2014 Effective August 1, 2014 Amount of Coverage OWNER’S CHARGES Minimum policy charge: $200.00 Up to $250,000 $3.90/$1,000 Over $250,000 to $500,000, add: $3.70/$1,000 Over $500,000 to $1,000,000, add: $3.40/$1,000 Over $1,000,000 to $2,500,000, add: $2.25/$1,000 Over $2,500,000 to $5,000,000, add: $2.00/$1,000 Amount of Coverage LOAN CHARGES Minimum policy charge: $200.00 Up to $250,000 $2.90/$1,000 Over $250,000 to $500,000, add: $2.70/$1,000 Over $500,000 to $1,000,000, add: $2.40/$1,000 Over $1,000,000, to $2,500,000, add: $1.85/$1,000 Over $2,500,000 to $5,000,000, add: $1.50/$1,000 ENHANCED RESIDENTIAL Amount of Coverage HOMEOWNER’S CHARGES Minimum policy charge: $240.00 Up to $250,000 $4.90/$1,000 Over $250,000 to $500,000, add: $4.65/$1,000 Over $500,000 to $1,000,000, add: $4.25/$1,000 Over $1,000,000, to $2,500,000, add: $2.85/$1,000 Over $2,500,000 to $5,000,000, add: $2.40/$1,000 ENHANCED RESIDENTIAL Amount of Coverage LOAN CHARGES Minimum policy charge: $240.00 Up to $250,000 $3.48/$1,000 Over $250,000 to $500,000, add: $3.24/$1,000 Over $500,000 to $1,000,000, add: $2.76/$1,000 Over $1,000,000, to $2,500,000, add: $2.22/$1,000 Over $2,500,000 to $5,000,000, add: $1.80/$1,000 Amounts over $5,000,000 contact Underwriter. Stewart Title Guaranty Company – Virginia (effective 8/1/14) Page 2 Endorsement Charges: NO charge for standard endorsements, excluding the ALTA 3 series and the ALTA 14 and higher series. Contact Underwriter for charges on these excluded endorsements. Also note that endorsements issued to provide special coverage may incur extra-hazardous risk charges as determined by Underwriter. The charge for such coverage may be based upon a percentage of the rate applicable to the policy, a fixed dollar amount commensurate with the risk to be assumed, or a rate per thousand based upon the overall insured amount. Modifications of Loan Policy by Endorsement: Modifications of existing Stewart-insured loan policies by endorsement may be issued for a charge of thirty percent (30%) of the original title charge paid, provided the original loan amount is NOT being increased. Modifications of existing Stewart-insured loan policies by endorsement may be issued for a charge of thirty percent (30%) of the original title charge paid, plus additional charge based upon applicable published standard loan rates in effect at the time of loan modification. Simultaneous Issue fee: $150.00 per loan policy up to face amount of the owner’s policy is the simultaneous fee charge. In the event that the value of loan policy should exceed the value of the owner’s policy, any excess amount shall be calculated based upon applicable standard or enhanced policy rates. Closing Protection Letters: A Closing Protection Letter (CPL) is available as an option to the seller and buyer in the real estate transaction if an owner’s title insurance policy will be issued to the buyer, or to the mortgagor and lender if a loan policy of title insurance will be issued to the lender in the real estate transaction, if a commitment has been issued by Stewart and the CPL is requested by that party in writing at or before the closing of the real estate transaction. Title insurance to be issued by Stewart must be required as a condition for a CPL to become an available option. The election for a CPL must be made prior to or at the time of closing of the real estate transaction. The protection is available to the purchaser, lender and seller if it involves a sale/purchase transaction, or the borrower/lender in a refinance or other loan transaction. A fee of $20 per letter per issued CPL issued on a file is payable in full to Stewart at completion of the transaction, for administrative expenses and is not subject to a division of premium. In the event of a second mortgage or HELOC by a lender other than the primary lender, an additional fee of $20 would be payable if a CPL is issued to that lender. No fee will be charged for CPLs issued for transactions for which Stewart does not issue and is not obligated to issue a title insurance policy. Refinance Charges: For residential refinance loan transactions involving improved one-to- four family residential properties, the residential refinance loan charge for a Loan Policy is seventy percent (70%) of the policy charge and shall be applied as to the face amount of the new deed of trust. A refinance loan transaction is a transaction in which the loan proceeds are used for any purpose other than the financing of the acquisition of the property in a concurrent purchase transaction. Refinance rate charges do not apply to commercial transactions. No prior policy needs to be obtained in connection with the use of refinance rates. Timeshares: $60 minimum up to $20,000.00, with regular charges over $20,000.00. Stewart Title Guaranty Company – Virginia (effective 8/1/14) Page 3 Extra-hazardous Risk Charge for Decedent Estate Risks may be applicable in open estate situations, pursuant to Underwriter guidelines and underwriting bulletins. When applicable, the charge for such is calculated at $2.00 per $1000 of value (based upon the sales price of the transaction), with a minimum charge of $250 payable to Stewart. NOTES: Owner’s policies are to be issued for the full consideration of the property. Loan policies are not to be issued for less than the full amount of the loan. Standard leasehold policies are issued at the standard owner’s charges. Scheduled charges do NOT include any costs incidental to title insurance (e.g., title search and/or examination fees, commitment and/or final policy preparation, recordation, etc.) and any of these fees are NOT to be charged with title insurance premiums. An extra hazardous risk fee may be charged on construction loan policies and new construction outsale policies requiring affirmative mechanic’s lien coverage. Stewart Title will advise when/if these extra hazardous risk fees are to be charged. Stewart reserves the right to charge additional premium fees for particular extra hazardous risks and coverages. Contact Underwriter for pricing when issuing the ALTA U.S. Policy, the STG Home Equity Policy, the ALTA Junior Loan Policy, or other title insurance products not delineated herein. Reissue rates on residential purchases and refinances are no longer available. Stewart Title Guaranty Company – Virginia (effective 8/1/14) Page 4 .
Load more

Recommended publications
  • Flow of Real Estate Transactions (In the Case of an Individual Purchasing a Home)
    Flow of Real Estate Transactions (in the case of an individual purchasing a home) Real estate transactions can be broadly divided into those conducted for self-use purposes (actual demand) and those for earning purposes (investment). Here is the flow of real estate transactions summarized as a flowchart, assuming the case of an individual purchasing a home, as an example of actual demand. Flow of Real Estate Transactions (in the case of an individual purchasing a home) ●●●Property for Sale by Owner/Builder and Property for Sale by Broker ●●● The form of selling homes can be broadly divided into properties for sale by owner/builder and properties for sale by broker. The flow of purchase differs depending on this. (1) Property for sale by owner/builder A property purchased directly from the real estate company that is the seller. (There are also cases of purchase via a real estate company entrusted by the seller to act as a sales agent.) In general, newly-constructed condominiums and large groups of newly-constructed detached homes are properties for sale by owner/builder. (2) Property for sale by broker A property purchased through a real estate company acting as broker at the request of the seller. In general, small groups of newly-constructed detached homes and existing properties are properties for sale by broker. Brokerage fees payable to the real estate company may arise in the case of properties for sale by broker. ◆◆◆Property for Sale by Owner/Builder (in the case the seller is a real estate company) Planning by seller (real estate
    [Show full text]
  • Commercial Vs Residential Transactions the Complexities & Needed Due Diligence
    A Division of American Surveying & Mapping, Inc. Commercial vs Residential Transactions The Complexities & Needed Due Diligence National Marketing Director Service Provider to the David Herrin, Fidelity National Title Group Cindy Jared, SVP, Major Accounts Family of Companies Thank You Thank You • Thank you to ALTA and to Fidelity National Title Group for sponsorship of this Webinar and the opportunity to present to ALTA members • My name is David Herrin the National Marketing Director of National Due Diligence Services (NDDS) • NDDS is a Division of American Surveying & Mapping, Inc. • We are a national land surveying and professional due diligence firm • Established in 1992 with over 25 years of service • One of the nation's largest, private sector, survey firms • Staff of 150 dedicated & experienced professionals ® 2 Commercial vs Residential Transactions • Residential Transactions – Systematic and Regulated • Commercial Transaction – Complexities • Commercial - Due Diligence Phase – ALTA Survey – Related Title Endorsements • Other Commercial Due Diligence Needs – Environmental Site Assessments – Property Condition Assessments, – Seismic Risk Assessments (PML) – Zoning ® 3 Subject Matter Expert Speakers may include: David Herrin, National Marketing Director, NDDS Mr. Herrin offers over 35 years real estate experience including 10 years as a Georgia licensed Real Estate Broker (prior GRS & CCIM designates), regional manager for a national title insurance company & qualified MCLE instructor in multiple states. Brett Moscovitz, President,
    [Show full text]
  • Bundle of S Cks—Real Property Rights and Title Insurance Coverage
    Bundle of Scks—Real Property Rights and Title Insurance Coverage Marc Israel, Esq. What Does Title Insurance “Insure”? • Title is Vested in Named Insured • Title is Free of Liens and Encumbrances • Title is Marketable • Full Legal Use and Access to Property Real Property Defined All land, structures, fixtures, anything growing on the land, and all interests in the property, which may include the right to future ownership (remainder), right to occupy for a period of +me (tenancy or life estate), the right to build up (airspace) and drill down (minerals), the right to get the property back (reversion), or an easement across another's property.” Bundle of Scks—Start with Fee Simple Absolute • Fee Simple Absolute • The Greatest Possible Rights Insured by ALTA 2006 Policy • “The greatest possible estate in land, wherein the owner has the right to use it, exclusively possess it, improve it, dispose of it by deed or will, and take its fruits.” Fee Simple—Lots of Rights • Includes Right to: • Occupy (ALTA 2006) • Use (ALTA 2006) • Lease (Schedule B-Rights of Tenants) • Mortgage (Schedule B-Mortgage) • Subdivide (Subject to Zoning—Insurable in Certain States) • Create a Covenant Running with the Land (Schedule B) • Dispose Life Estate S+ck • Life Estate to Person to Occupy for His Life+me • Life Estate can be Conveyed but Only for the Original Grantee’s Lifeme • Remainderman—Defined in Deed • Right of Reversion—Defined in Deed S+cks Above, On and Below the Ground • Subsurface Rights • Drilling, Removing Minerals • Grazing Rights • Air Rights (Not Development Rights—TDRs) • Canlever Over a Property • Subject to FAA Rules NYC Air Rights –Actually Development Rights • Development Rights are not Real Property • Purely Statutory Rights • Transferrable Development Rights (TDRs) Under the NYC Zoning Resoluon and Department of Buildings Rules • Not Insurable as They are Not Real Property Title Insurance on NYC “Air Rights” • Easement is an Insurable Real Property Interest • Easement for Light and Air Gives the Owner of the Merged Lots Ability to Insure.
    [Show full text]
  • How to Buy Title Insurance In
    How to Buy Title Insurance in [Insert State] This guide: • Covers the basics of title insurance. • Explains the need for title insurance. • Offers tips to shop for title insurance and closing services. • Gives you questions you should ask before you buy title insurance. [Name] [DOI Logo] [Superintendent of Insurance] [DOI Website Address] Drafting Note: This template has been developed for state departments of insurance who are interested in providing a consumer education publication regarding title insurance. The template was developed as a comprehensive guide that can be edited/personalized to meet the individual needs of a state. DRAFT: 3-23-215-25-21 1 Table of Contents Introduction Page 3 Buying or Refinancing a Property Page 3 What is Title Insurance, and What Does it Cover? Page 4 Two Types of Title Insurance—Owner’s and Lender’s Policies Page 4 What Doesn’t Title Insurance Cover? Page 4 Who Sells Title Insurance? Page 5 The Right to Choose Your Own Title Agent/Company Page 5 Who Pays for Title Insurance? Page 5 What Does Title Insurance Cost? Page 6 Ask if You’re Eligible for Discounts Page 6 The Difference Between Title and Homeowners Insurance Page 6 Questions to Ask Before You Buy Title Insurance Page 6 The Real Estate Closing Page 7 Closing Agents Page 8 Questions to Ask When You Choose a Closing Agent Page 8 Closing Protection Page 8 Shop Around for Title Insurance and Closing Services Page 8 Cost Comparison Chart Page 9 Final Tips to Remember Page 10 How to File a Title Insurance Claim Page 10 The [INSERT DOI NAME] is Here to Help Page 10 Other Resources Available Page 11 Disclaimer: The information included in this publication is meant to serve as a guide and is not a substitute for legal or professional advice.
    [Show full text]
  • Unrepresented Buyer Acknowledgement
    UNREPRESENTED BUYER ACKNOWLEDGEMENT This Unrepresented Buyer Acknowledgement (the “Acknowledgement”) is made by ​ ​ ____________________________________________________________________________ (“Buyer”) ​ ​ regarding the property located at _________________________________________________________ ______________________________________________________________________ (the “Property”). ​ ​ Redfin Corporation (“Redfin”) represents the seller of the Property. ​ ​ 1. BUYER IS UNREPRESENTED. Buyer is not currently represented by, or otherwise working with, ​ a real estate agent. 2. REDFIN REPRESENTS SELLER ONLY, NOT BUYER. Redfin does not represent Buyer or ​ Buyer’s interests. Redfin solely represents the interests of the seller of the Property. 3. NO AGENCY RELATIONSHIP WITH REDFIN. There is no agency relationship between Buyer ​ and Redfin. In the course of representing the seller of the Property, Redfin may perform several real estate activities including, without limitation, the following: ● Answer questions about the Property; ● Hold open houses of the Property; ● Conduct tours of the Property; and ● Transcribe a prospective buyer’s offer terms into contract form (although Buyer agrees it remains Buyer’s sole responsibility to review, complete, understand, and sign such contracts). Neither those activities nor this Acknowledgement create an agency relationship between Buyer and Redfin. If, at a later date, Buyer would like to be represented by a Redfin agent in Buyer’s efforts to purchase this Property or a different property, then Buyer will enter an agency agreement with Redfin at that time. Unless and until Buyer enters an agency agreement with Redfin, Buyer understands and agrees that Redfin does not represent Buyer’s interests in the purchase of this Property or any other property. 4. OPPORTUNITY TO CONSULT WITH AGENT. Buyer understands that real estate transactions ​ are complex and that real estate agents can provide valuable services in guiding their clients through the real estate transaction process.
    [Show full text]
  • Residential Real Estate Conveyancing
    BEST PRACTICE MANUAL Residential Real Estate Conveyancing The material is this manual is for illustration purposes only and is not to be copied or shared. Some of the information is compiled from the following sources: Continuing Legal Education Society Law Society of British Columbia of British Columbia Practical Legal Training Course Conveyancing Deskbook Real Estate Practice Manual The Society strongly recommends that its members subscribe to the CLE course materials noted above. ENCOURAGING BEST PRACTICE FOR BC NOTARIES 1 April 2009 Index RESIDENTIAL REAL Estate CONVEYANCING ................................................... 4 Introduction ..................................................................................................................4 Relying on Staff.............................................................................................................5 Talking to your Client .....................................................................................................5 Taking Instructions ........................................................................................................6 Scope of the Retainer ...................................................................................................7 Multiple Clients .............................................................................................................8 Consent/Conflict of Interest ..........................................................................................8 Independent Legal Advice ..........................................................................................11
    [Show full text]
  • Informationfriday
    #InformationFriday LEASEHOLD TITLE INSURANCE: A PATHWAY TO CLOSING By: S. H. Spencer Compton, Vice President-Special Counsel, First American Title Insurance Company June 12, 2015 Law school teaches that real property consists of a bundle of rights associated with certain estates or interests, foremost of which is the fee simple absolute. Much has been written about the insurability of fee estates. This article will discuss title insurance products for leasehold estates and their practical value in consummating significant commercial lease transactions. Just like fee owners and fee mortgagees, certain prospective tenants, tenants’ assignees and leasehold lenders can benefit from the information furnished in a title report and the subsequent protections of a leasehold title insurance policy. Nonetheless, only a few long-term lessors of high value real property with costly leasehold improvements purchase leasehold title insurance unless their lenders simultaneously purchase it, thus affording such lessors a discounted premium rate. This is counterintuitive, given that the impairment or loss of a long-term leasehold estate due to a title claim or failure of title can be every bit as devastating to the tenant as such a loss or claim might be to a fee owner. In addition, the leasehold endorsement to the 2006 ALTA owner’s policy expands the policy as to the computation of loss or damage and identifies compensable items of loss for a policy insuring a leasehold. The value question of whether or not to purchase a Leasehold Owner’s title insurance policy is a secondary consideration. First, let us focus on what information can be derived from a leasehold title report: 1.
    [Show full text]
  • Updated Requirements for Pre-Foreclosure Sales (PFS) and Deeds in Lieu (DIL) of Foreclosure
    U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT WASHINGTON, DC 20410-8000 ASSISTANT SECRETARY FOR HOUSING- FEDERAL HOUSING COMMISSIONER July 10, 2014 Mortgagee Letter 2014-15 To All FHA-Approved Mortgagees Servicing Single Family Mortgages Subject Updated Requirements for Pre-Foreclosure Sales (PFS) and Deeds in Lieu (DIL) of Foreclosure Purpose This Mortgagee Letter sets forth the Department’s policies on Pre-Foreclosure Sales and Deed In Lieu transactions. This Mortgagee Letter also describes: Requirements for real estate agents and brokers participating in PFS transactions; An initial listing period requirement for PFS transactions; Updated sample language for the PFS Addendum; Documentation requirements for verifying assets, income, and expenses; Use of the Deficit Income Test (DIT); The elimination of the financial hardship/deficit income PFS requirement for a servicemember who has received Permanent Change of Station (PCS) Orders; Validation requirements for appraisals; The criteria under which the Department will permit non-arms-length PFS transactions; and The minimum marketing period for all PFS transactions. Effective Date Mortgagees must implement the requirements in this Mortgagee Letter for all new Approvals to Participate (ATPs) no later than October 1, 2014. Affected Policy This Mortgagee Letter supersedes in its entirety Mortgagee Letter 2013-23, Updated Pre-Foreclosure Sale (PFS) and Deed in Lieu (DIL) of Foreclosure Requirements, published on July 9, 2013. The policies set forth in this Mortgagee Letter also supersede, where in conflict, Mortgagee Letters 2013- 34, 2008-43, 2002-13, and 2000-05. All other requirements of Mortgagee Letters 2008-43, 2002-13, and 2000-05 remain in effect. Priority Order If none of FHA’s loss mitigation home retention options are available or of PFS and DIL appropriate, the mortgagee must evaluate the borrower for a non-home retention option.
    [Show full text]
  • Flat Fee / Limited Service Disclosure / Limitation Of
    FLAT FEE / LIMITED SERVICE DISCLOSURE / LIMITATION OF LIABILITY Flat Fee Discount Realty, Real Estate Brokerage is offering a Limited Service Listing, the following services will/will not be provided: *Comparative Market Analysis (CMA) will be provided upon request. *Your property will be listed in the Multiple Listing Service (MLS) with an Exclusive Right to Sell Listing Agreement. The MLS will not allow multiple Brokers to post the same property in the MLS at the same time. You will be exclusively listed with us. *Cooperating Brokers (Realtors) have permission and authority to make appointments and ask questions directly with you. Your private contact information will be posted in the MLS for only Realtors to view using their password. Once your property is posted in the MLS system, that data automatically downloads into other Realty websites including Realtor.com. How the information is ultimately posted on other websites is beyond our control. Realtor.com (& other Real Estate websites) sell zip codes to local Buyer Representatives (Realtors) in your area, so Buyer inquiries will go directly to that Realtor. The MLS guidelines prohibit private information from being posted on their website (MLS). If a Buyer is interested in your property, the Buyer will contact their Realtor so the Realtor can use their password to look up your private contact information in the MLS. Our ultimate goal is to have Realtors help bring you a qualified Buyer. *You name the price, terms and commission; you advertise and show yourself. Obtain your own buyer and pay no selling commission. * Flat Fee Discount Realty is available to accept delivery of Offers to Purchase your property, submit Counteroffers, provide a Seller’s Closing Cost Estimate and answer any questions relating to Real Estate transactions that are presented by a Buyer’s Realtor (Selling Broker) upon request.
    [Show full text]
  • Deeds in Lieu of Foreclosure: Is It Time to Dust Off Our Skills?
    April 7, 2017 National | Thought Leaders Commentary Deeds In Lieu Of Foreclosure: Is It Time To Dust Off Our Skills? SAN FRANCISCO—Deeds in lieu can have benefits for both borrowers and lenders, including the ability to control expenses, writes Allen Matkins’ Stephen P. Lieske in this EXCLUSIVE commentary. By Stephen P. Lieske SAN FRANCISCO—Regardless of where you think we are in the current economic cycle, it may be time to refresh our recollection with respect to secured lending remedies and alternatives. A useful tool is the deed in lieu of foreclosure, which is completely described by its name: the defaulting borrower acknowledges that it is game over, and transfers the property to the lender instead of forcing the lender to Stephen P. Lieske foreclose. Although it sounds defeatist, deeds Documenting the Deal. A deed in lieu deal in lieu have benefits for both borrowers and is usually documented with a Deed in Lieu of lenders. Foreclosure Agreement (“DIL Agreement”), Why do a deed in lieu of foreclosure? Expense. which looks like a purchase and sale agreement, Because the process is consensual, both parties and makes the form of the transaction essentially can control expenses. Reputation. Unless the a purchase deal. borrower is getting out of the real estate business, Estoppel. The borrower acknowledges that cooperating with the lender will give them a the loan is in default, that the property is better story to tell when the good times return. underwater and that there is no coercion to Borrowers also avoid bad publicity associated with enter into the DIL Agreement.
    [Show full text]
  • The Financial Statement Insurance Alternative to Auditor Liability
    CHOOSING GATEKEEPERS: THE FINANCIAL STATEMENT INSURANCE ALTERNATIVE TO AUDITOR LIABILITY Lawrence A. Cunningham Contributingto a lively debate concerning how to design auditor incentives to optimize financial statement auditing, this Article presents the more ambitious financial statement insurance alternative. This approach breaks from the existing securities regulation framework to draw directly on insurance markets and insur- ance law. The author prescribes a framework to permit companies, on an experimental basis and with investor approval, to use financial statement insurance as an alternative to financial statement auditingbacked by auditor liability. A chief challenge for the efficacy of such an alternative is the relation of state insurance law to federal securities regulation. One solution is to develop for financial statement insurance the functional equivalent of the U.S. Trust Indenture Act of 1939, which is applicable to contracts governing public debt securities. This would allow substantial freedom of contract in policy terms, governed by state law, while mandating certain specific terms and establishing minimum federal parametersfor others. Most other hurdles arisingfrom the interplay between state insurance law and federal securities regulation can be overcome using disclosure. A broader challenge ispreserving insurer solvency if financial state- ment insurance is placed at the center of the public-company financial reporting system. IN TRO DU CTIO N ............................................................................................................
    [Show full text]
  • Commonly Used Real Estate Transaction Terms
    Commonly Used Real Estate Transaction Terms The following terms are utilized frequently in real estate transactions that are not used in implementing other NRCS conservation programs. The definitions provided for this list of terms does not supersede definitions provided in the WRP manual or in the Department of Justice title standards, but is intended to clarify frequently used terms. 1. “Exceptions and clouds on title” refers to any evidence that the landowner is not in full control of the property to be encumbered by the Wetlands Restoration Program (WRP) easement or contract or that the property cannot be used for wetland restoration purposes. Exceptions and clouds on title can include mechanics’ liens, mortgages, judgments, divorce decrees, other conservation easements, hazardous waste risks, and squatters’ rights. 2. “Title search documents” refers to the summaries of information regarding the documents obtained by searching the land records, court dockets, and other public records. These summaries are contained in documents entitled “Preliminary Title Report,” “Title Commitment Binder,” “Title Abstract,” and the like. 3. “Underlying documents” refers to the individual documents listed in the title search documents summary that are obtained by searching the land records, court dockets, and other public records. 4. “Closing agent” refers to the person or entity preparing the title search document, providing the underlying documents, or handling the closing and legal transfer of title and ownership from the seller to the buyer. The closing agent is typically not an agent of either party, but simply the person entrusted to carry out all non-conflicting instructions from all parties. In WRP transactions, the closing agent is hired by NRCS and thus is consider a buyer’s agent.
    [Show full text]